About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

GLEIF Extends LEI Validation Agent Scheme with Sparkasse Bank Malta and Diligencia

Subscribe to our newsletter

The Global Legal Entity Identifier Foundation (GLEIF) has added two validation agents to the Global Legal Entity Identifier System, bringing the global total of agents able to provide their clients with LEIs to 10. The additions are Sparkasse Bank Malta, a European bank offering corporate and private banking, investment, and custody services; and Diligencia, a UK-based provider of corporate intelligence and due diligence solutions in the Middle East and Africa (MEA).

GLEIF introduced the validation agent framework in September 2020, to enable banks and other regulated institutions to use their KYC and AML onboarding procedures to help clients obtain LEIs. J.P. Morgan became the first validation agent in November 2020.

Both Sparkasse Bank Malta and Diligencia partnered with Ubisecure, an LEI issuer, to become validation agents. Simon Wood, CEO at Ubisecure, says: “We have worked closely with the GLEIF and our validation agent partners to develop a good solution – an API first, automated platform that ensures agents can register LEIs without friction and at massive scale.”

Managing Director at Sparkasse Bank Malta, Paul Mifsud, says approval as a validation agent enables the bank to streamline its approach to client lifecycle management, enhance customer experience, and establish a foundation to create new value-added services for corporate clients.

In line with GLEIF’s objective to increase voluntary LEI adoption outside mandated use cases,  the validation agent role was designed for not only banks and financial institutions, but also organisations that performs relevant validation and verification practices using accurate data, based exclusively on primary sources.

Diligencia fits in here. Managing director Nouri Bakkali, comments: “There is enormous potential for the MEA region to lead the way in terms of LEI issuance growth as global investors seek the transparency, trust, and confidence needed to engage with markets such as Saudi Arabia and Turkey.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to leverage data lineage for actionable business insights

Data lineage is a must-have for financial institutions, but is it being used to its greatest extent, and is it delivering actionable business insights that inform product development and support competitive advantage? This webinar will address these questions, looking first at the status quo of data lineage across capital markets, and moving on to discuss...

BLOG

Kensho Integrates Link AI with S&P Cross-Reference Capabilities to Improve Client Data Management

Kensho Technologies, an S&P Global company, has integrated its Link AI solution with S&P Global Market Intelligence’s Business Entity Cross Reference Service (BECRS) to streamline client data management. By combining Kensho Link, a machine learning service that maps entities in a user’s database to unique ID numbers from S&P Global’s company database, and BECRS datasets...

EVENT

AI in Capital Markets Summit London

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...